“Over 80 Percent of Women Fail Retirement Income Literacy Quiz,” Advisor Magazine “Only 18% of retirement-age women can pass a basic quiz on how to make a nest egg last in retirement. Nearly twice as many retirement-age men are able to pass, and although those numbers are still grim, this underscores the trouble women face in their own retirement knowledge. Even more worrisome is that despite low retirement literacy, the majority of women (55%) are still extremely confident that they and their spouses would have enough money to retire comfortably.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term
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“40% underestimate assisted living costs,” by Lois A. Bowers, McKnight’s Senior Living “The median midpoint of a family’s monthly budget for assisted living was less than $3,500 based on more than 40,000 families of residents who moved to one of the company’s partner communities between January 2014 and February 2016, writes Ben Hanowell in a blog post. The actual median monthly cost, however, is more than $3,800, he adds. . . . Lacking community-specific information on provider websites, resources such as Genworth’s Cost of Care Survey or A Place for Mom’s Senior Living Cost Index may help prospective residents and
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“Disabled Medicare enrollees are not getting the same care as able-bodied ones,” by Virgil Dickson, Modern HealthCare “Disabled Medicare beneficiaries are not being screened for cancer as thoroughly as non-disabled enrollees, according to the CMS. The agency has found that beneficiaries age 65 and older reporting disabilities were less likely to receive mammography screenings, prostate exams and Pap tests than those reporting no disability.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): This is how rationing and de facto euthanasia creep into supposedly universal government health care programs. Disabled Medicare enrollees are not getting the same
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“The Hidden Costs In Medicare Advantage Plans,” by Danielle Kunkle, Forbes   “New-to-Medicare clients often ask us, ‘Which is better: Medigap or Medicare Advantage?’ Medigap plans have been around forever and are relatively easy to understand. Medicare Advantage plans work differently but generate much interest due to premiums which are often lower than Medigap plans. . . . Which type of coverage is best? That answer depends on what is most important to you: lower premiums or more predictable costs. Remember that what is best for your neighbor might not be best for you. Do your research before enrolling so
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“How To Get Long-Term Care At Home Without Busting The Bank,” by Judith Graham, Kaiser Health News “The vast majority of older adults receive long-term care at home, not in nursing homes. But few people plan for this expense. Nor do they see long-term care insurance as a viable option — because it’s expensive and is often seen as protection against the cost of nursing home care. That should change, some experts contend. If the long-term care insurance industry focused more on helping people cover home-based services, they argue, policies would be more affordable, and potentially appealing. . . .
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“High-Cost Dual Eligibles’ Service Use Demonstrates The Need For Supportive And Palliative Models Of Care,” by Julie P. W. Bynum,  Andrea Austin, Donald Carmichael, and Ellen Meara, Health Affairs (gated) “Abstract: Health care spending is generally highest among people who need both complex medical care and long-term services and supports, such as adults dually eligible for Medicare and Medicaid. Understanding how different types of complex patients use services over time can inform policies that target this population. High combined Medicare and Medicaid spending are found in two distinct groups of high-cost dual eligibles: older beneficiaries who are nearing the end
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“New Study Identifies Major Gaps in Medicaid Structure,” by Whitney Munro, Foundation for Government Accountability “A new study has identified a major loophole in the structure of Medicaid that has led to massive cost overruns and a shortage in available funds for truly needy individuals. According to the study, eligibility expansions and loopholes have led to a perversion of Medicaid, creating an entitlement program for the middle-class. The report, How to Fix Long-Term Care Financing,  co-published by the Foundation for Government Accountability (FGA) and the Center for Long-Term Care Reform, found that the current structure of Medicaid has created a
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